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• CME says there’s rising demand for non-USD denominated crypto derivatives merchandise. 
• The firm additionally plans to launch choices on Ethereum futures on 12 September. 

Derivatives market CME Group has introduced its Euro-denominated Bitcoin (BTC) and Ether (ETH) futures contracts are actually dwell.

On Monday, August 29, 2022, the corporate formally unveiled two euro-denominated crypto futures contracts, noting that the merchandise “will be listed on and subject to the rules of CME.”

Now dwell: euro-denominated Bitcoin and Ether futures. Efficiently handle bitcoin and ether publicity within the underlying forex of your alternative. https://t.co/Mxfk4ajee9 pic.twitter.com/A5BZ53RAYL

— CME Group (@CMEGroup) August 29, 2022

Bitcoin Euro and Ether Euro futures contracts

As announced earlier this month, Bitcoin Euro will likely be sized at 5 BTC and the Ether Euro contract at 50 ether. The contracts are money settled, and will likely be based mostly on the CME CF Bitcoin-Euro Reference Rate in addition to the CME CF Ether-Euro Reference Rate, the corporate famous within the announcement.

“Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the US, with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap” mentioned Tim McCourt, the Global Head of Equity and FX Products at CME Group.

He famous that the 2 contracts’ providing comes after a powerful exhibiting, each by way of total progress and liquidity, for the derivatives large’s US dollar-denominated bitcoin and ether contracts.

CME Group is unveiling these futures merchandise because the crypto market navigates a crypto winter that has decimated crypto costs. However, demand for correctly regulated non-USD crypto derivatives stays excessive.

The supplier additionally plans to launch an choices contract on Ether (ETH) futures. The contract, sized at 50 ether, will likely be rolled out on 12 September, with this being topic to regulatory overview.